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ZenGo uses new forms of transaction signing to simplify the crypto experience for non-technical new crypto users Israeli cryptocurrency developer KZen has raised $4 million from backers including South Korean electronics giant Samsung, industry news outlet The Block reported on April 17. The company’s product, smartphone wallet app ZenGo — currently in beta phase testing — aims to simplify custodial wallet usage for entry-level cryptocurrency users. Using a combination of split key storage and biometric security features, the company hopes users will be able to benefit from a simple wallet user interface while not relying on a third party or themselves to hold their private keys and other sensitive information. A smartphone and cloud storage form the two sharers of information needed to sign a transaction, part of a setup called threshold signatures. “ZenGo uses open source threshold cryptography to replace the private key and all the troubles related to securely managing non-custodia..
Gemini, the crypto exchange founded by the Winklevoss twins, has updated its wallet infrastructure to include support for SegWit bitcoin addresses. Gemini, the crypto exchange founded by the Winklevoss twins, has updated its wallet infrastructure to include support for Segregated Witness (SegWit) bitcoin (BTC) addresses. The news was revealed in a Gemini blog post on April 15. SegWit is a scalability solution for the bitcoin network, first activated in late 2017. As well as increasing block size, Segwit moves the “witness” signature data to a separate location. It thus solves what is known as transaction malleability, which is conducive to second-layer solutions like Lightning Network (LN). Claiming that Gemini is the first major crypto exchange to launch full — rather than partial — SegWit support, the blog post’s author, Brian KimJohnson, wrote that Gemini will enable SegWit addresses to be used for both bitcoin deposits and withdrawals. The platform has also launched support for tr..
The issue, which affected only a handful of users, now has a dedicated patch, while balances have been returned. Monero (XMR) developers have fixed a bug involving cryptocurrency hardware wallet Ledger that made user funds look like they had disappeared, they confirmed on social media on April 8. Reported in early March, the bug, which Ledger originally thought to be a synchronization problem, first came to light when a user’s balance failed to react to an incoming transaction. The problem only affected those using Ledger Nano S devices to access their XMR wallet. As of this week, the issue has officially been resolved through the issuance of a patch from Monero developers luigi1111 and stoffu. The amount thought to be lost in the initial red flag transaction totalled 1,680 XMR (around $115,00), leading to concerns of a major flaw. In the end, Monero says, the number of wallets involved was minimal. “A few weeks ago some Ledger Monero users got affected by a bug in the Ledger Monero c..
Major web browser Opera is releasing a new browser with a built-in cryptocurrency wallet and Web 3 explorer. Major web browser Opera is releasing a new browser with a built-in cryptocurrency wallet. The development was announced in a press release shared with Cointelegraph on April 9. Opera’s new browser Opera 60 (codenamed Reborn 3) features a native cryptocurrency dubbed Opera Wallet and a Web 3 explorer, which enables users to conduct transactions and interact with the blockchain-based internet, also known as Web 3. The browser also provides a virtual private network (VPN) feature in a bid to enhance users’ privacy and security. The Opera Wallet purportedly synchronizes with the cryptocurrency wallet in the Opera browser for smartphones, so that wallet keys never leave the users’ smartphones. The release further explains: “In practice, whenever they need to identify themselves to a Web 3 website or sign a transaction on the blockchain, users get a notification on their smartphone. ..
Payments giant Western Union will integrate the Coins.ph blockchain-based platform, enabling Filipinos to conduct cross-border money transfers. American financial services company The Western Union Company has partnered with Philippines-based e-wallet provider Coins.ph to enable Filipinos to conduct cross-border money transfers. The development was announced in a press release published on April 3. Within the collaboration, Western Union will purportedly integrate the Coins.ph blockchain-based platform into its cross-border platform, enabling users in the Philippines to receive and hold international money transfers directly into their Coins.ph wallets. Prior to using the new services, customers reportedly have to register for Coins.ph wallet, provide a valid ID, and pass electronic Know Your Customer (KYC) procedures. The release further notes that Coins.ph will limit a consumer wallet capacity to 100,000 Philippines pesos per month (about $1,907). According to the World Bank’s Migra..
Bitcoin wallet Electrum faces another hack that involves fake software versions stealing users’ money. Bitcoin (BTC) wallet service Electrum is facing an ongoing Denial-of-Service (DoS) attack on its servers, the company reported on Twitter on April 7. According to tech news website The Next Web, the new attack has caused users to lose estimatedly millions of dollars to date, with a single person alone reportedly losing about $140,000. The ongoing DoS attack was allegedly launched by a malicious botnet of more than 140,000 machines, and aims to steal users’ Bitcoin by referring them to fake versions of Electrum software. Citing an unnamed security researcher, the article says that the recent DoS attack is deployed on a new level and was launched about a week ago. According to The Next Web, the attackers have even implemented their own Electrum servers hosting compromised Electrum versions in order to realize the hack. After users sync their vulnerable Electrum wallet with a malicious ..
Binance’s official digital currency wallet app Trust Wallet has added a staking feature for cryptocurrencies Binance’s official digital currency wallet app Trust Wallet has added staking for cryptocurrencies. The development was announced by Binance in a blog post published on April 3. The staking feature — which is scheduled to be launched by Binance by the end of the second quarter of 2019 — enables users to earn dividends or interest on their investment for validating transactions and allows them to vote on changes in the blockchain. Staking rewards are a byproduct of the proof-of-stake (PoS) consensus algorithm. Launching the staking feature will purportedly let Trust Wallet support proof-of-stake cryptocurrencies. Additionally, Trust wallet added support for Tezos (XTZ), and is planning to include support for staking in the Tezos on-chain governance mechanism. In late March, Coinbase Custody, which provides storage facilities for institutional investors, revealed that it is seeki..
Coinbase has revealed details of its insurance coverage for its hot wallet crypto holdings, reportedly covering a $255 million limit via a Lloyd’s of London-registered broker. Major American cryptocurrency exchange Coinbase has revealed details of its insurance coverage for its hot wallet crypto holdings, reportedly covering a $255 million limit via a Lloyd’s of London-registered broker. The details were disclosed in an official blog post from Coinbase’s Chief Information Security Officer (CISO) Philip Martin on April 2. According to Martin, Coinbase has held an insurance policy covering its hot wallet crypto holdings since mid-November 2013, in particular to protect against what the exchange identifies as being the highest-risk consumer loss scenario in the crypto space — theft by hacking. Martin’s post outlines that Coinbase currently holds: “[A] hot wallet policy with a $255 million limit placed by Lloyd’s registered broker Aon and sourced from a global group of US and UK insurance..
The entire cryptocurrency community has been jubilating since the Bitcoin bull run started this morning. Just like Bitcoin and other cryptocurrencies in the market, the Stellar Lumens current price is green on CoinMarketCap. The Stellar development foundation has recently sealed many partnerships for the promotion of the Stellar blockchain and the XLM token. Recently, Coinbase announced that it would be hosting a $100 million Stellar airdrop that would be sponsored by the Stellar development foundation. Cryptocurrency news today has been focused on the Bitcoin bull run but yesterday, Coinbase announced that it has decided to make Stellar (XLM) compatible with the Coinbase Wallet on Android and iOS devices. Stellar Development Foundation – Stellar Lumens Current Price And Coinbase Wallet Addition Yesterday, Coinbase announced that the Coinbase Wallet app for Android and iOS devices will accept Stellar Lumens XLM after the next update. This is another win for the Stellar development fou..
Google-owned video-sharing platform YouTube reportedly ran a malicious ad for the Electrum Bitcoin wallet by mistake. Video-sharing platform YouTube purportedly ran a malicious advertisement for Bitcoin (BTC) wallet Electrum by mistake, according to a Reddit post published on March 26. Viewers interested in the advertisement were redirected to a malicious link using a common scamming method called typosquatting or URL hijacking. In the Reddit post, a user named mrsxeplatypus warned the public about the promotion of a malware version of Electrum, and described how the scam ad worked: “The malicious advertisement is disguised to look like a real Electrum advertisement [...] It even tells you to go to the correct link (electrum.org) in the video but when you click on the advertisement it immediately starts downloading the malicious EXE file. As you can see in the image, the URL it sent me to is elecktrum.org, not electrum.org.” Technology-focused news site The Next Web reported that Goog..